ベイシス Research Memo (4): Revenue to Reach Record High in the Fiscal Year Ending June 2026, with Double-Digit Growth in Profit at Each Stage

For the fiscal year ended June 2026, consolidated revenue was ¥8,427 million, up 5.5% year on year; operating profit was ¥216 million, up 21.5%; ordinary profit was ¥210 million, up 25.4%; and net profit attributable to owners of the parent was ¥112 million, up 16.7%. Revenue reached a record high. Compared with the initial forecast, revenue was 3.0% lower, operating profit 7.9% lower, ordinary profit 8.1% lower and net profit 12.2% lower. The delay in accepting a large-scale project into the fiscal year ending June 2027 was a contributing factor.

By service, IoT Engineering Services led growth, increasing 13.1% year on year. Mobile Engineering Services recorded a 3.4% decline in revenue due to a reduction in 5G area expansion work, but spot projects such as communications quality improvement work and base-station installation exceeded expectations. Revenue from other services, including IT Engineering Services, increased 9.4%, supported by demand for network renewal among financial institutions.

On the earnings front, the gross profit margin declined 0.4 percentage points to 23.0%, while the operating profit margin rose 0.4 percentage points to 2.6%, supported by reductions in selling, general and administrative expenses and the effects of digital transformation initiatives. EBITDA increased 15.8% to ¥294 million, while adjusted EBITDA increased 14.6% to ¥334 million.

By segment, revenue from Mobile Engineering Services was ¥3,252 million, down 3.4% year on year; IoT Engineering Services was ¥3,742 million, up 13.1%; and other services, including IT Engineering Services, were ¥1,431 million, up 9.4%. Device installation projects for IoT Engineering Services remained solid, although full-year results may fall below forecast due to delays in accepting large-scale projects.

Written by: Fisco analyst Murase Tomokazu (村瀬 智一)